The actor will return for the follow-up to 2010's Tron: Legacy.
"Disney's very excited," he told NextMovie. "That's about that. You know, yeah, I'm very excited, Disney's very excited."
Hedlund will reprise his role as Sam Flynn, the son of original Tron star Jeff Bridges's Kevin Flynn.
Jesse Wigutow - who has worked on Eragon and the upcoming remake of The Crow - was revealed last week to have been hired to write a new draft of the movie.
Tron: Legacy director Joseph Kosinski is attached to return for the third outing, the plot details of which remain under wraps.
Watch a trailer for the previous film below: